Updates, advisories and surprises

(4:31 PM ET) NEW YORK (MarketWatch) -- Hewlett-Packard
HPQ, -0.05%
reported in-line earnings for the fourth quarter, but a 2% decline in revenue that fell short of expectations. Shares of H-P slumped 1.5% to $36.94 in afterhours trade Tuesday. The company posted adjusted earnings per share of $1.06, matching average analyst estimates in a FactSet poll. However, revenue came in at $28.41 billion, shy of expectations of $28.7 billion. The PC maker forecast first-quarter per-share earnings of between 89 cents and 93 cents, which is mostly below the consensus view of 93 cents. CEO Meg Whitman said the company's turnaround "continues on track." The company in October announced plans to separate into two distinct public companies, one focused on its legacy computer and printer business and the other housing its much faster growing services and enterprise unit.

TiVo shares fall 1.6% as profit misses estimates

(4:19 PM ET) NEW YORK (MarketWatch) -- TiVo Inc. shares
TIVO, +1.67%
slumped 1.6% in after-hours trade Tuesday, after the company missed profit estimates for its third fiscal quarter. TiVo said it had net income of $6.345 million, or 6 cents a share, in the quarter, down from $12.487 million, or 10 cents a share in the year-earlier period. Revenue rose to $118.4 million from $117.3 million. The FactSet consensus was for per-share earnings of 7 cents and sales of $115 million. The company is now expecting fourth-quarter service revenue of $87 million to $90 million. Net income is expected to range from $2 million to $5 million, while adjusted EBITDA is expected to range from $21 million to $24 million. The San Jose, Calif. company has been diversifying, expanding into cloud-based media services. It also provides personalized video search, recommendations and browsing, and social trending for the pay-TV industry on mobile platforms. Shares are down 1.6% in the year so far, while the S&P 500 has gained about 12%.

Apple's stock gains after analyst bumps up price target

(9:34 AM ET) NEW YORK (MarketWatch) -- Apple Inc.'s stock
AAPL, +1.30%
rose 0.5% in morning trade Tuesday, and hit an all-time intraday high of $119.32, after Stifel Nicolaus analyst Aaron Rakers raised his price target by 13% to $130, citing an upbeat outlook for next year's launch of Apple Watch. The new price target is 9% above current prices. Rakers noted there are still a lot of unknowns related to the Apple Watch launch, which he believes will occur late in the first quarter of 2015, but his initial estimate for sales of about 19.6 million units, and for Apple Watch gross margin of 40%, leads him to raise his earnings-per-share and revenue forecasts for 2015 to $7.85 and $218.9 billion, respectively, from $7.69 and $213.3 billion. For 2016, he lifted his earnings-per-share estimate to $9.22 and his sales estimate to $253.3 billion, from $8.88 and $242.2 billion, respectively. Raker also believes signs of strong iPhone sales could lift earnings estimates for the first half of 2015 even further. The stock has now climbed 49% so far this year, compared with a 12% gain in the S&P 500.

Campbell Soup profit, sales rise above forecasts

(7:28 AM ET) NEW YORK (MarketWatch) -- Campbell Soup
CPB, -0.88%
reported a fiscal first-quarter profit of $368 million, or 74 cents a share, up from $305 million, or 57 cents a share, in the year-earlier period. That beat the FactSet consensus analyst estimate of 72 cents a share. Sales rose 4% to $2.26 billion, above analyst forecasts of $2.22 billion, as improved volume and sales mix offset the negative effects of increased promotional spending and currency fluctuations. Gross margin declined 1.2 percentage points to 34.7%. The soup maker revised lower its fiscal 2015 outlook for adjusted per-share earnings to a range of $2.42 to $2.50 from $2.45 to $2.50, and for sales growth to a range of flat to 2% from 1% to 2%, to reflect the negative effects of currency movements. The stock, which was still inactive in premarket trade, had gained 3% so far this year through Monday, while the S&P 500 has advanced 12%.

Tiffany's stock slips after profit, sales miss expectations

(7:13 AM ET) NEW YORK (MarketWatch) -- Tiffany & Co.'s stock
TIF, -0.73%
fell 2% in premarket trade Tuesday, after the high-end jewelry retailer reported fiscal third-quarter profit and net sales that fell shy of expectations and lowered its sales outlook. Net earnings for the quarter ended Oct. 31 fell to $38 million, or 29 cents a share, from $95 million, or 73 cents a share, in the same period a year ago. Excluding non-recurring items, the adjusted per-share profit was 76 cents, below the FactSet consensus analyst estimate of 77 cents. Revenue rose 5% to $959.6 million, missing analyst forecasts of $968 million, weighed by a 12% decline in Japan sales. Overall same-store sales rose 4%, above expectations of 3.8%. Tiffany affirmed its full fiscal year earnings-per-share view of $4.20 to $4.30, but lowered its percentage growth outlook for sales to a "mid-to-high-single-digit" range from "high-single-digit" range. The stock has climbed 13% so far this year through Monday, compared with a 12% rally in the S&P 500.

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